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Federal Reserve Issues FOMC Statement Of Longer-Run Goals And Policy Strategy

Date 25/01/2012

Following careful deliberations at its recent meetings, the Federal Open Market Committee (FOMC) has reached broad agreement on the following principles regarding its longer-run goals and monetary policy strategy. The Committee intends to reaffirm these principles and to make adjustments as appropriate at its annual organizational meeting each January.
FINRA Fines Merrill Lynch $1 Million For Failure to Arbitrate Disputes With Employees

Date 25/01/2012

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith $1 million for failing to arbitrate disputes with employees relating to retention bonuses. Registered representatives who participated in the bonus program had to sign a promissory note that prevented them from arbitrating disagreements relating to the note, forcing the registered representatives to resolve disputes in New York state courts.
SIFMA Applauds House Agriculture Passage Of Derivatives Bills

Date 25/01/2012

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., executive vice president, public policy and advocacy, in response to the House Agriculture Committee passing several pieces of legislation aimed at clarifying or amending certain parts of the derivatives section (Title VII) of the Dodd-Frank Act.
Kansas City Board Of Trade Announces Officers, Directors For 2012 - Steven K. Campbell Is 2012 KCBT Chairman

Date 25/01/2012

The Kansas City Board of Trade announces 2012 officers and directors, who took office at a regular board meeting held yesterday. Members of the Kansas City Board of Trade elected Steven K. Campbell, Vice President & Director North America Wheat Trading, Louis Dreyfus Commodities, LLC as chairman in an election held earlier this month. Campbell served as first vice chairman of the KCBT in 2011 and as second vice chairman in 2010. The first vice chairman traditionally has assumed the chairmanship of the KCBT in the following year.
Guidewire Software Celebrates Initial Public Offering And First Day Of Trading On The New York Stock Exchange - First Technology IPO To List On The NYSE In 2012

Date 25/01/2012

Guidewire Software, a leading insurance technology company, opened for trading today on the New York Stock Exchange (NYSE) under the ticker symbol “GWRE” after its initial public offering in which it raised $115 million in gross proceeds. Marcus Ryu, Chief Executive Officer and Co-Founder, joined by members of Guidewire’s management team, celebrated the company’s first day of trading on the NYSE by ringing The Opening Bell^SM. Guidewire is the first technology IPO to list on the NYSE this year.

U.S. Federal Reserve Issues FOMC statement

Date 25/01/2012

Information received since the Federal Open Market Committee met in December suggests that the economy has been expanding moderately, notwithstanding some slowing in global growth. While indicators point to some further improvement in overall labor market conditions, the unemployment rate remains elevated. Household spending has continued to advance, but growth in business fixed investment has slowed, and the housing sector remains depressed. Inflation has been subdued in recent months, and longer-term inflation expectations have remained stable.
David Einhorn And Greenlight Capital Inc Fined £7.2m For Trading On Inside Information In Punch Taverns Plc.

Date 25/01/2012

The Financial Services Authority (FSA) has decided to fine David Einhorn, owner of the prominent US hedge fund Greenlight Capital Inc (Greenlight), and his fund £7.2 million for engaging in market abuse in relation to an anticipated significant equity fundraising by Punch Taverns Plc (Punch) in June 2009.
CFTC Staff To Host Public Roundtable To Discuss The “Available To Trade” Provision for Swap Execution Facilities And Designated Contract Markets

Date 25/01/2012

Staff of the Commodity Futures Trading Commission (CFTC) will hold a public roundtable on January 30, 2012, from 9:30 a.m. to 1:30 p.m., to discuss the proposed regulations to implement the “available to trade” provision of the trade execution requirement set forth in Section 2(h)(8) of the Commodity Exchange Act pursuant to Section 723 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The roundtable will discuss: 1) the filing process under Part 40 of the Commission’s regulations for a designated contract market (DCM) or swap execution facility (SEF) to notify the Commission that it has determined that a swap is “available to trade”; 2) the factors that a DCM or SEF must consider to make an “available to trade” determination; and 3) the meaning and parameters of “economically equivalent swap.” The roundtable will assist the CFTC in the rulemaking process.
UK's Financial Services Authority: New Orthodoxy For Conduct Regulation – Fair Deal For Consumers

Date 25/01/2012

Martin Wheatley, managing director of the Financial Services Authority (FSA), today outlined a new orthodoxy and regulatory approach for the future of conduct regulation – getting a fair deal for consumers.
Statement Of Dissent To The CFTC-SEC Report On International Swap Regulation Pursuant To Section 719(c) Of The Dodd-Frank Act (the “Report”), CFTC Commissioner Scott D. O’Malia

Date 25/01/2012

The staff of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) must be commended on their outreach with other international regulatory bodies to harmonize the new rules and regulations over the swaps markets. I am confident that this level of coordination and cooperation has never been achieved previously.